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Homework answers / question archive / San Francisco State UniversityI BUS 330 International Business, 8e Chapter 11 International Strategic Management 1)_is a comprehensive and ongoing management planning process aimed at formulating and implementing strategies that enable a firm to compete effectively internationally

San Francisco State UniversityI BUS 330 International Business, 8e Chapter 11 International Strategic Management 1)_is a comprehensive and ongoing management planning process aimed at formulating and implementing strategies that enable a firm to compete effectively internationally

Management

San Francisco State UniversityI

BUS 330

International Business, 8e

Chapter 11 International Strategic Management

1)_is a comprehensive and ongoing management planning process aimed at formulating and implementing strategies that enable a firm to compete effectively internationally.

 

  1.                          is the process of developing a particular international strategy.

 

  1. Which of the following would be the most involved with strategic planning at Olson Pharmaceuticals, an MNE?

 

  1.                          are comprehensive frameworks for achieving a firm's fundamental goals.

 

  1. Garmin Footwear, an MNE, establishes facilities anywhere in the world that yields the lowest production or distribution costs. Garmin most likely benefits from

                        .

 

  1. JBX Automobiles, a global firm, builds factories to serve more than one country and lower the MNE's production costs. JBX Automobiles most likely benefits from

                        .

 

  1. What form of efficiency did Mercedes-Benz capture by initially producing its sport utility vehicle only in Alabama?

 

  1. Carvel Industries, an MNE, broadens its product line in each of the countries that it enters. Carvel most likely benefits from                                                                                             .

 

  1.                          occur(s) when firms build factories that serve more than one country and lower their production costs.

 

  1. Nike achieved                               by centering its manufacturing in countries where labor costs are relatively low.

 

  1. Martin Enterprises, an MNE with operations in India, Japan, and Taiwan, has decided to delegate an increasing amount of responsibility to the managers of its local subsidiaries. Which of the following will most likely be enhanced as a result?

 

  1. Which of the following would most likely be minimized if too much power was centralized in one unit of the firm?

 

  1. A global firm's worldwide learning may be increased by                                            .

 

  1. Multinational flexibility is                                .

 

  1. When using a(n)                               , a firm utilizes the core competency or firm-specific advantage it developed in the domestic market as its main competitive weapon in the foreign markets it enters.

 

 

  1. With the home replication strategy                                   .

 

  1. Mercedes-Benz relies on its brand name and reputation for well-engineered, luxurious cars to succeed in foreign markets. Mercedes-Benz is most likely using the

                         strategy.

 

  1. Parker Sportswear is an MNE with retail stores around the world. Parker views itself as a collection of relatively independent operating subsidiaries, each of which focuses on a specific domestic market. Parker most likely uses a                                                                                                                                                           strategy.

 

  1. With the multidomestic strategy                                  .

 

  1. Hanson Manufacturing, an MNE, has operations in India, Taiwan, China, and Argentina. Since Hanson focuses on the specific domestic market in each location, the firm allows its subsidiaries to customize products and develop marketing campaigns that will appeal to local customers. Hanson most likely uses a      strategy.

 

  1. Which approach is most appropriate when economies of scale for production, distribution, and marketing are low?

 

  1. Executives at Harper Industries are evaluating the firm's international strategy to determine if the current approach is effective. Harper has been using a multidomestic strategy for the last five years. Which of the following statements best supports Harper continuing to use the same strategy?

 

  1. With the global strategy                                 .

 

  1. A firm following the                                views the world as a single marketplace.

 

  1. The primary goal of a(n)                                   is the creation of standardized goods and services that will address the needs of customers worldwide.

 

  1. Dixon Enterprises, an MNE, uses a global strategy, which means that the firm most likely has a         structure.

 

  1. Firms using a                                conduct business the same way anywhere in the world.

 

  1. Which strategy combines the benefits of global scale efficiencies and local responsiveness?

 

  1. With the transnational strategy                                  .

 

  1. IKEA attempts to capture global efficiencies while remaining responsive to local conditions. IKEA follows a .

 

  1. Firms using a                                are more likely to locate responsibility for one product line in one country and responsibility for a second product line in another.

 

  1. Abelman Home Goods, an MNE, faces significant pressure to respond to local conditions but very little pressure to integrate globally. Which strategy would most likely be best for Abelman?

 

  1. Kraft Foods is more concerned with meeting the specific needs of local customers than with reducing manufacturing costs. Which strategy is most likely used by Kraft Foods?

 

  1. Sargent Software faces significant pressure to move towards global integration , but the MNE does not need to respond locally. Which strategy should most likely be used by Sargent Software?

 

  1. Sony designs its products with an international market in mind, so the firm most

likely uses a                              .

 

 

  1. When pressures for global integration and local responsiveness are both high,

firms usually adopt the                                .

 

 

 

  1. Which of the following situations does not indicate a low need for global integration?

 

  1.                          require(s) the transfer of information and experiences from the parent to each subsidiary, from each subsidiary to the parent, and among subsidiaries.

 

  1. Which strategy is likely the best for promoting global learning?

 

  1. A firm using a                                strategy would most likely have a matrix structure, project teams, and informal management networks to transfer knowledge among subsidiaries.

 

  1. Which of the following is one of the components of strategy development?

 

  1.                          answers the question, "What do we do exceptionally well, especially as compared to our competitors?"

 

  1. Sony has cutting edge technology, efficient distribution networks, and superior organizational practices. These characteristics are most relevant to which component of international strategy?

 

  1. Disney's name, image, and portfolio of characters are examples of which component of international strategy?

 

  1.                          answers the question, "Where are we going to conduct business?"

 

  1. The compatibility of software programs with the Windows operating system is an example of Microsoft's .

 

  1.                          may be defined in terms of geographic regions, markets, or product niches.

 

  1. Disney has constructed theme parks in Japan, the United States, and France. This refers to Disney's         .

 

  1.                          answers the question, "Given that we are going to compete in these markets, how will we allocate our resources to them?"

 

  1. When Disney decides to make a low investment in its Tokyo park, a higher investment in Disneyland Paris, and a similar investment in Hong Kong's theme park, Disney is modifying which component of international strategy?

 

  1. Although Daimler AG's newest plant is in Alabama, most Mercedes are still German built. This is an example of Daimler AG's                                                                                            .

 

  1.                          answers the question, "How can different elements of our business benefit each other?"

 

  1. The goal of                               is to create a situation where the whole is greater than the sum of the parts.

 

  1. Disney's                              is evident in the fact that people recognize its characters from television and movies, visit Disney theme parks, and buy merchandise featuring the Disney characters.

 

  1. In comparison to licensing, franchising offers a firm                                          .

 

  1. International franchising is most likely to succeed when the franchisor has

                        .

 

  1. Kodak focuses on developing photo editing software, and the firm has agreements with a Chinese manufacturer to assemble most Kodak cameras. Which entry mode for international business is used by Kodak?

 

  1. British Airways has an arrangement with a state-owned airline headquartered in Brazil. British Airways provides the Brazilian airline with advice on reservation services and scheduling. Which entry mode for international business is used by British Airways?

 

  1. Bechtel, a construction and engineering firm, has a contract with the Indian government to expand the airport in New Delhi. Bechtel will design, construct, and equip the airport before turning the facility over to the Indian government upon completion. Which entry mode for international business is used by Bechtel?

 

  1. Which of the following is typically critical to a turnkey project?

 

  1. Which term refers to a firm building and operating a facility before transferring ownership of the facility to another party?

 

  1. Which country is the market leader in providing international business process outsourcing?

 

  1. Juanita recently purchased a FDX Computer. She needs assistance setting it up and contacts the firm's customer service center, which is located in Bangalore, India. FDX Computer most likely engages in which of the following?

 

  1. Which of the following is a method for foreign direct investment?

 

  1. Comtex, a U.S. clock manufacturer, recently built a new production facility in Bangladesh. Which term best describes the activities of Comtex?

 

  1. What is a common disadvantage of using a greenfield strategy?

 

  1. The licensees that built Tokyo Disneyland insisted on a                                              licensing agreement with the Walt Disney Company before agreeing to invest the funds necessary to build the park.

 

  1. When two or more firms agree to work together and create a joint owned firm to promote mutual interest,         has occurred.

 

 

  1. Assessing market potential is the second step in the process of foreign market analysis.

 

 

  1. A firm specializing in low-priced, lower-quality goods will most likely find a high- income market more attractive than a low-income one.

 

 

  1. Firms should use both objective and subjective measures when considering the potential for growth in an economy.

 

 

  1. Trade policies usually have little effect on a firm's choice of entry mode.

 

  1. Government stability is an important factor in foreign market assessment.

 

  1. Firms can reduce the uncertainty associated with sociocultural influences by focusing their internationalization efforts in countries that are culturally similar to their own.

 

 

  1. Indirect costs are those the firm incurs in entering a new market and include costs associated with setting up a business operation.

 

 

  1. Dunning's eclectic theory is useful in understanding which mode of entry to use.

 

  1. When deciding which mode of entry to use, a firm must consider things like ownership advantages, location advantages, and internalization advantages.

 

  1. Ownership advantages are always tangible resources.

 

  1. Liability of foreignness refers to the internalization advantages that make it desirable to produce a good or service in-house.

 

 

  1. Embedded technology is often best transferred through an equity mode.

 

  1. Pharmaceutical firms routinely use licensing as their entry mode.

 

  1. Exporting is the most complicated mode of internationalizing due to the issue of tariffs and nontariff barriers.

 

 

  1. One disadvantage of exporting is the logistical complexities.

 

  1. Foreign direct investment offers both high profit potential and high financial risk.

 

  1. Reactive motivations for exporting are those that pull a firm into foreign markets as a result of opportunities available there.

 

 

  1. Intracorporate transfers are common in the service sector.

 

  1. Export management companies always take title to the goods.

 

  1. Webb-Pomerene associations play a major role in international business.

 

  1. The most important trading companies in the global marketplace are Japan's sogo shosha.

 

 

  1. Manufacturers' agents specialize in the physical transportation of goods.

 

  1. Royalties are determined most commonly as a percentage of the sales of the licensed products.

 

 

  1. When the licensor fully investigates market opportunities and the abilities of its licensees, licensing has a relatively low financial risk.

 

 

  1. The greater the investment costs incurred by the licensee, the longer is the likely duration of the licensing agreement.

 

 

  1. International franchising is among the fastest growing forms of international business.

 

 

  1. McDonald's, Pizza Hut, and KFC all rely on franchising for their international expansion.

 

 

  1. Management contracts are attractive because they allow firms to earn additional revenues without incurring any investment risks or obligations.

 

 

  1. When there is overcapacity in an industry, acquisition is the best strategy.

 

  1. The number of joint ventures being formed today is on the decline.

 

  1. Describe the basic components of foreign market analysis.

 

  1. What types of government actions may encourage licensing?

 

  1. What is the difference between direct costs and opportunity costs?

 

 

  1. What are the five primary types of entry modes for foreign markets? What types of risks should international firms consider before entering a foreign market?

 

  1. What is liability of foreignness?

 

  1. What is the meaning of ownership advantages? Give an example.

 

  1. Explain the meaning of internalization advantages.

 

  1. What is an export management company? Why would an exporter hire an EMC? What are the two ways that EMCs operate?

 

  1. What is contract manufacturing? What are the advantages and disadvantages of contract manufacturing?

 

 

  1. What is indirect exporting?

 

  1. Briefly describe the services provided by manufacturers' agents, manufacturers' export agents, export and import brokers, and freight forwarders.

 

  1. What is the difference between international licensing and international franchising? What are the advantages of each entry mode?

 

  1. How is compensation typically addressed in international licensing and franchising contracts? What basic issues should be addressed in such contracts?

 

  1. What is the difference between a B-O-T project and a turnkey project? What are the benefits of each to an international business?

 

  1. Why are international turnkey projects usually administered by large construction firms?

 

  1. Which form of market entry should a firm use when it needs to coordinate the activities of its foreign subsidiaries to achieve strategic synergies?

 

  1. What is the difference between a brownfield strategy and a greenfield strategy? Do you think one strategy is better than the other? Explain.

 

  1. In a brief essay, discuss how both exporting and FDI enable international businesses to maintain control in a foreign environment.

 

  1. What are the steps involved in foreign market analysis?

 

 

  1. Explain the licensing process.

 

  1. Describe the specialized entry modes for international business.

 

  1. Turnkey projects and foreign direct investment are both risky modes for entering foreign markets. Briefly describe the risks associated with each mode.

 

  1. Compare and contrast the three forms of foreign direct investment.

 

  1. What are the advantages and disadvantages of acquisition?

 

 

 

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